What we own

The Group has a 1.5% life of mine GRR over three exploration tenements in the central Pilbara region of Western Australia, owned by a wholly-owned subsidiary of BHP Group Limited
(‘BHP’), which is dual-listed on the LSE and ASX.
The tenements, covering 263km2, host a number of known iron occurrences, including the Railway deposit. The tenements are supported by extensive rail infrastructure including the rail lines from Rio Tinto’s West Angeles and Yandicoogina mines and BHP’s rail line serving its current operations at Mining Area C, which lie immediately to the east of the Railway deposit.

Performance

Although no tangible progress on the royalty tenements was seen in 2020, BHP continue to progress the permitting of their South Flank licences. Whilst this will have minimal consequences
for Anglo Pacific’s tenements, we are encouraged that BHP are expanding their plans adjacent to Mining Area C, and that it remains likely they will focus on higher grade deposits, that the Group’s royalties cover.